IRS program for reducing tax debt, offering to settle for less than owed if taxpayer meets strict criteria.
Fiore Tax Resoution
Qualifying for an Offer in Compromise
To qualify, you must meet the IRS’s strict criteria, including demonstrating financial hardship if you’re required to pay the full amount owed. Our experienced Tax Resolution Experts can help determine whether you’re eligible and guide you through the process.
Information Required
When applying for an Offer in Compromise, you’ll need to provide detailed information about your assets, income, and expenses:
Assets: Home value, vehicle resale value, retirement savings, stocks, bonds, and bank account balances
Income: Wages, self-employment income, rental income, and other income sources
Expenses: Mortgage or rent, insurance, dependent care, transportation costs, and court-ordered payments
Submitting Your Application
After gathering the necessary information, you’ll submit IRS Form 656-B along with supporting documentation. Our Tax Resolution Experts can assist in completing the paperwork accurately, increasing your chances of approval.
Representation by Trusted Experts
Fiore Tax Resolution understands how the system works — and we put that insider knowledge to work for you. Contact us today for a complimentary consultation and let us guide you through the Offer in Compromise process with clarity and confidence.
Schedule a Free Consultation
A short call with one of our tax resolution specialists could change everything. Let’s talk about your options and how we can help you resolve your tax situation—for good.
Have questions about tax resolution? You’re not alone. Here are a few answers to some frequently asked questions. There are many more, so be sure to visit our FAQs page to see them all.
The process to qualify for a tax debt settlement is dependent on your personal financial situation. To find out if you qualify, schedule a complimentary consultation with one of our tax consultants, and be prepared to answer questions regarding your monthly income and expenses, additional assets to your name, and your total tax liability.
The Fresh Start program, also known as the Offer in Compromise, allows a taxpayer to settle their tax debt for a portion of the full amount owed when proven that the taxpayer is experiencing a financial hardship. If accepted, the Offer eliminates all outstanding balances with the IRS and releases any potential liens placed against the taxpayer.
While both are collection tools used by the IRS, a tax lien and a tax levy are not interchangeable terms. A lien is a claim to a taxpayer’s property due to a tax debt, while a levy is the actual action of seizing a taxpayer’s property.
Without protection in place, the IRS is legally allowed to seize your property or wages due to an unpaid tax liability.
June 22, 2025
